CommScope’s core net sales increased 17.8% year-over-year primarily due to higher net sales in the Broadband Networks and Venue and Campus Networks segments, as revealed in its latest results.
“Our second-quarter results demonstrate strong execution and some early quick wins with our CommScope NEXT initiative offsetting a portion of our inflationary impacts with a longer-term focus on optimizing our portfolio and delivering strong revenue growth,” said Chuck Treadway, president and chief executive officer. “Despite ongoing global supply chain challenges, our team remained focused and continued to deliver for our customers. We remain encouraged by opportunities to capitalize on industry tailwinds such as the demand for 5G, the recent launch of HELIAX® SkyBlox™ to meet the demand for network upgrades, and the help we provide operators to put reliable mobile networks in place.”
Overall net sales in Q2 2021 increased 3.9% year over year to $2.19 billion while the net loss of $153.8 million decreased by 52.1% compared to the previous period's net loss of $321.1 million. Non-GAAP adjusted net income also surged by 34.4% reaching $105.7 million, or $0.43 per share, versus $76.9 million, or $0.32 per share, in the second quarter of 2020.
Non-GAAP adjusted EBITDA also increased by 10% to $307.7 million in the second quarter of 2021 compared to the same period last year. According to the company’s statement, the negative impact of COVID-19 has eased during their 1H 2021 financial performance, with network strain driving increased demand for their Broadband segment products.
Alex Pease, executive vice president and chief financial officer, said, “While we are pleased with our second-quarter performance and strong demand outlook, we will need to work hard in the back half of this year to stabilize the challenges within our global supply chains. CommScope continues to position itself to reinvest in our core strategic markets and technologies, capitalizing on growth opportunities in our Broadband, Outdoor Wireless, and Venue and Campus segments. As we move into the second half of the year, growth, cost control, and portfolio optimization will continue to be our priorities.”
